To attract new customers, many banks often offer a sign-up bonus when you open a new account. For checking accounts specifically, these bonuses can be at least $100. Qualifying is usually easy: New account holders typically just need to make a minimum deposit or set up direct deposit.
How do I get a cash bonus?
Each bank account requires certain criteria to qualify for the cash bonus. For example, you may have to deposit a minimum amount of money by a certain date. The best checking account bonuses can be found at brick-and-mortar banks, although a couple of online banks also have solid checking bonuses, too.
Why do banks offer sign-up bonuses?
Banks use sign-up bonuses to distinguish themselves from others in the industry. Cash bonuses also help financial institutions bring in new customers and new deposits. While they could pay account holders a higher yield, for some banks, offering a bonus is preferable.
